Bergman & Beving AB: Bergman & Beving acquires Bröderna Miller AB - A leading brand within hardware fittings
Bergman & Beving acquires Bröderna Miller AB - A leading brand within hardware fittings
Bergman & Beving has today signed an agreement to acquire all shares in Bröderna Miller AB.
Bröderna Miller AB has previously conducted operations with hardware fittings products as well as bathroom products. In connection with the acqusition, the seller has divided the company's operations so that the bathroom operation is transferred to Miller Badrum AB. Bergman & Beving acquires only the hardware fitting business, while the owner family Miller continues to run the bathroom business.
Bröderna Miller is an illustrious company with a history going back more than 100 years. The company is one of the leaders in hardware fittings in Sweden and sells most of the products as its own brand "Miller's". The aqcuried business has a turnover of approximately SEK 40 million per year, and has about 10 employees.
"Miller is a strong brand within hardware fittings and complements our existing offer in a good way and strengthens our position," says Pontus Boman, President and CEO.
The closing is taking effect immediately and the acquisition is expected to have a marginal positive impact on Bergman & Beving's earnings per share during the current fiscal year.
Stockholm, 01 April 2019
Bergman & Beving AB (publ)
For further information, please contact:
Pontus Boman, President & CEO, Tel: +46 10 454 77 00
Peter Schön, CFO, Tel: +46 70 339 89 99
The information was submitted for publication, through the agency of the contact persons set out above, at 14.45 CET on 1 April 2019.
Bergman & Beving owns and refines companies that develop and market strong brands for professional users in industry and construction, mainly in the Nordic region, the Baltic States and Poland. Bergman & Beving aims to enable successful product companies to take the next step and become leading brands in their categories. The Group currently has some 15 brands, about 1,000 employees and revenue of approximately SEK 3.8 billion. Bergman & Beving is listed on Nasdaq Stockholm. Read more on the company's website: www.bergmanbeving.com.